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Future of the Global Digital Evidence Management Market: Trends, Innovations, and Key Forecasts Through 2034
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.How Large Will the Digital Evidence Management Market Size By 2025?
The market size of digital evidence management has experienced fast-paced growth in recent years. It is projected to escalate from a value of $8.41 billion in 2024 to $9.36 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 11.3%. The substantial growth during the historical period is related to the rise in cybercrime rates, regulatory compliance requirements, heightened awareness, crime globalization, and system integration.
How Big Is the Digital Evidence Management Market Size Expected to Grow by 2029?
Anticipated to witness significant expansion in the coming years, the market size of digital evidence management is predicted to escalate to $14.59 billion in 2029 with a compound annual growth rate (CAGR) of 11.7%. This projected surge in the specified period can be linked to its extended use in unconventional sectors, heightened apprehension over cybersecurity, the integration across diverse platforms, improved measures for data privacy, and a shift towards solutions based on the cloud. Notable trends for the mentioned period include increased global collaboration, quick advancements in technology, an upswing in digitalization, technological progression, and the incorporation of blockchain.
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Which Key Market Drivers Powering Digital Evidence Management Market Expansion and Growth?
The surge in cybercrime and fraudulent activities is projected to fuel the expansion of the digital evidence management market. Cybercrime and fraud entail illicit actions carried out via the internet or digital platforms with the intent to trick or manipulate individuals or entities for money-making or other malevolent ends. The complexity of the digital environment, coupled with insufficient knowledge about online , often leads to individuals and organizations becoming victims of cyber attacks. Digital evidence management plays a paramount role in these incidents by enabling enterprises and law enforcement agencies to gather, scrutinize, and present digital proof to identify culprits, bring offenders to account, and avert future occurrences. For example, in February 2023, reports released by the Federal Trade Commission, a US-based government organization, revealed that consumers witnessed a significant increase in fraud losses, amassing nearly $8.8 billion in 2022 - an increase of more than 30% in comparison to the preceding year. Additionally, in February 2023, the Australian Cyber Security Centre, an Australian-based cyber security body, indicated that the number of cybercrime reports received in 2022 scaled to 76,000, marking an increase of 13% from the year before. Hence, the escalating incidents of cybercrime and fraud are fueling the growth of the digital evidence management market.
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Which Fast-Growing Trends Are Poised to Disrupt the Digital Evidence Management Market?
Leading firms in the digital evidence management market are focusing on the development of cutting-edge software, such as advanced OCR solutions, in an effort to equip manufacturers and warehousing operators with a tool that offers speed, precision, and trustworthiness for automation and quality inspections via deep learning technology. An advanced OCR solution incorporates sophisticated tech that transforms printed or handwritten texts from images and papers into data that machines can interpret, leveraging artificial intelligence and machine learning to boost precision and productivity. For example, in October 2022, Zebra Technologies Corporation, a mobile computing organization based in the U.S., introduced the Deep Learning Optical Character Recognition (DL-OCR), offering swift, precise, and trustworthy deep learning solutions ready for implementation, to facilitate compliance, quality, and presence checks for manufacturers and warehousing operators. DL-OCR includes a pre-trained neural network that has been trained on numerous diverse image samples, delivering consistent results that could not be achieved with traditional OCR methods.
What Are the Emerging Segments in the Digital Evidence Management Market?
The digital evidence managementmarket covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By End User: Public Sector, Law Enforcement, Public Safety And Justice, Insurance
Subsegments:
1) By Hardware: Digital Evidence Collection Devices, Storage Devices, Forensic Workstations, Data Recovery Tools
2) By Software: Evidence Management Software, Forensic Analysis Software, Data Encryption Software, Digital Evidence Tracking Software
3) By Services: Consulting Services, Training And Support Services, Integration Services, Managed Services
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Who Are the Global Leaders in the Digital Evidence Management Market?
Major companies operating in the digital evidence management market are International Business Machine Corporation, OpenText Corporation, NICE Systems Ltd., Tableau Software LLC, Solera Holdings Inc., Verint Systems Inc., Cellebrite DI Ltd., Tritech Software Systems, Nuix Ltd., CaseWare International Inc., Magnet Forensics Inc., Belkasoft, Micro Systemation AB, DriveSavers Inc., Digital Intelligence Inc., F3EA Inc., Griffeye AB, Amped Software Co., Digital Detective Group Ltd., Atola Technology Inc., Paraben Corporation, Oxygen Forensics Inc., BlackBag Technologies Inc., Advanced Digital Forensic Solutions Inc., Binary Intelligence
Which are the Top Profitable Regional Markets for the Digital Evidence Management Industry?
North America was the largest region in the digital evidence management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital evidence management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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